The yield-point phenomenon (YPP) is an accustomed topic in sheet metal forming fields. Over hundred and fifty years since the first observation of the YPP, many research efforts have been continued to understand and describe it. Recent spotlights for the YPP studies are focusing on high-degree numerical methods with the support of increasing computing performance. Here, we review the representative computational studies on YPP to share the latest progress and remaining challenges to obtain better mechanical insights into it. After the duality of the YPP is addressed in terms of avoiding and utilizing it, the constitutive material models for the YPP as well as bake hardening models are discussed for a continuum level FE simulations, and the features of the discussed YPP models are compared. Microscopic and multiscale schemes are also briefly handled. It is expected that more advanced computational work can be initiated from this review.